While cryptocurrencies like Bitcoin may seem like a logical solution for cannabis companies to get around the cash problem, it’s the opposite of what dispensaries need as the industry struggles for legitimacy under federal prohibition, according to cannabis CEOs. Krista Whitley, the CEO of Altitude Products, a Nevada-based cannabis company, said while she’s “very enthusiastic”

Once solely an expert in mobile payments, now a diversified holding company, SinglePoint, Inc. (SING) is running with the idea of using technology to solve banking problems in the cannabis industry and providing full-service solutions to companies and consumers alike. The Seattle-based company has employed horizontal and vertical expansion tactics to take the concept of

“We provide both electronic payment and banking solutions to the legal cannabis industry,” Wagner said. This is how it works. Customers connect their bank account to a regulated and registered currency exchange. They can then buy a cryptocurrency. The most well known is BitCoin. From there, they can go to an alternative exchange and buy

A new bill filed in the Washington State Senate is seeking to prohibit local marijuana businesses from using bitcoin. Under the proposed rule, businesses that work in the local marijuana industry would not be allowed to either pay for goods with digital currency or accept those kinds of payments from customers. The bill also includes